New Homes Sales Bounce Back After Hurricane Season
Those who spend any time digging into home construction and home sales figures in the U.S. know that, of the 4 census divisions, the South accounts for about twice as much activity as the other 3 regions combined. For example, in data released today for the month of November, the South accounted for an annual pace of 417k new home sales out of a nationwide total of 664k ( 62% of the total)
Two months earlier, the South accounted for 472k out of 736k (64% of the total). But in October, it was only 366k versus a 627k (58% of the total). In other words, the South wasn't pulling its typical weight in bolstering new home sales. There's no need to overanalyze a simple phenomenon. Major weather events and/or natural disasters routinely show up in housing market data.
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